Statement on Jury’s Verdict in Trial of Guy Gentile, founder, owner, and CEO of MintBroker International, Ltd., f/k/a Swiss America Securities Ltd. and d/b/a SureTrader

Today, after a ten-day trial, a jury in the United States District Court for the Southern District of Florida found Guy Gentile, the founder, owner, and CEO of MintBroker International, Ltd., f/k/a Swiss America Securities Ltd. and d/b/a SureTrader, a Bahamas-based broker-dealer, liable as a control person of SureTrader, which operated as a broker-dealer in the United States without being registered, in violation of the federal securities laws. The jury also found Guy Gentile liable for inducing SureTrader's registration violations.

Statement of SEC Division of Enforcement Deputy Director Sanjay Wadhwa:

"We are pleased with today's swift jury verdict holding Gentile accountable for his violations. Registration requirements play a critical role in protecting investors. SureTrader's years-long failure to register as a broker-dealer deprived investors of significant protections, including SEC inspections, financial responsibility rules, and recordkeeping requirements. This trial underscores that the Commission will continue to hold responsible those who seek to evade the registration requirements of the federal securities laws."

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More information:

The SEC filed its civil complaint on March 22, 2021: https://www.sec.gov/files/litigation/complaints/2021/comp25058.pdf